IQST - iQSTEL Publishes Plan to Reach $500M in Sales and Uplist to Nasdaq

Rhea-AI Summary

iQSTEL Inc. (OTC-QX: IQST) has published a comprehensive business plan detailing its strategy to reach $500 million in annual sales and uplist to Nasdaq. The company is transitioning from a holding company to a unified telecommunications , with plans to simplify brands and reduce redundancies. Key highlights include:

- Projected $290 million revenue for FY 2024 with $7 million gross profit
- Q2 2024 preliminary revenue of $77M, a 49% increase from Q1
- Planned acquisition of Lynk Telecom, expected to add $20 million in annual revenue
- Consolidation of technological platforms to improve synergies
- Focus on expanding retail and corporate business segments
- Capital raising of up to $10.5 million for debt redemption and free cash
- Ultimate goal of raising $30 million for a major acquisition to reach $500 million in annual revenue and prepare for Nasdaq uplisting

Positive

• Projected revenue growth to $290 million for FY 2024
• Q2 2024 preliminary revenue increased by 49% compared to Q1
• Q2 2024 preliminary gross profit increased by 53% compared to Q1
• Planned acquisition of Lynk Telecom expected to add $20 million in annual revenue
• Strategy to reach $500 million in annual sales
• Plans to uplist to Nasdaq

Negative

• Need to raise up to $10.5 million to optimize capital structure
• Requirement for additional $30 million funding for major acquisition

NEW YORK, July 15, 2024 /PRNewswire/ -- iQSTEL Inc. (OTC-QX: IQST) (www.iQSTEL.com), today announced publishing a comprehensive business plan detailing the company's strategy to reach $500 million in annual sales and uplist to Nasdaq. The business plan was published Friday, July 12, on SEC Form 8K.

The comprehensive business plan has been published in conjunction with the company's recent announcements to

1. Transition its current holding company structure into a single unified commercial operation structure, and
2. Launch an institutional investor road show with the first investor presentation at the Emerging Growth Conference scheduled for July 17-18, 2024 to be available to all investors online on Wednesday, July 17th, at 9:40 AM Eastern Standard Time.

iQSTEL is currently a US-based, multinational, fully reporting and audited publicly listed telecommunications and technology. The company is on track to achieve $290 million in revenue this year, FY 2024, with $7 million in gross profit and seven digit operating income:

1. Preliminary Q2 revenue (unaudited) is $77M vs. $51.4M in Q1 (49% increase)
2. Preliminary Q2 gross profit (unaudited) is $2M vs. $1.3M in Q1 (53% increase)

Highlights of the comprehensive business plan published on SEC Form 8K include details on the following business strategy components:

1. Transformation to Telecommunications Corporation: iQSTEL is transitioning from a holding company to a unified corporation. This involves unifying commercial messages, simplifying brands, and reducing departmental redundancies.
2. Lynk Telecom Acquisition: We aim to complete the acquisition of Lynk Telecom, which is expected to boost annual revenue by $20 million and increase operating income by $1 million.
3. Technological Platform Consolidation: We plan to acquire or partner with a single switching platform for all our telecom subsidiaries to improve synergies and reduce technological costs.
4. Revenue Growth: Our strategy focuses on expanding both retail and corporate business segments to increase revenue from end users, which offer higher margin contributions.
5. Marketing Enhancement: We plan to revamp all marketing materials and corporate messages to align with our new corporate identity.
6. Capital Raising: We intend to raise up to $10.5 million to optimize our capital structure, leaving approximately $5 million of free cash after debt redemption.

Summary - $500 Million In Sales, $30 Million Institutional Investment, Nasdaq Listing 

The ultimate objective of iQSTEL's acquisition strategy is to prepare the company for a Nasdaq uplisting by culminating the acquisition campaign with a private or public company acquisition that can elevate iQSTEL's annual revenue to at least $500 million. Upon identifying a suitable acquisition target, the company plans to raise $30 million separate from any existing capital campaign.

About IQSTEL (updated):

iQSTEL Inc. (OTC-QX: IQST) (www.iQSTEL.com) is a US-based, multinational publicly listed company preparing for a Nasdaq up-listing with an FY2023 $144 million revenue, and with a $290 Million Dollar Revenue forecast and a Positive Operating Income of 7 digits forecast for FY-2024. iQSTEL's mission is to serve basic human needs in today's modern world by making the necessary tools accessible regardless of race, ethnicity, religion, socioeconomic status, or identity. iQSTEL recognizes that in today's modern world, the pursuit of the human hierarchy of needs (physiological, safety, relationship, esteem and self-actualization) is marginalized without access to ubiquitous communications, the freedom of virtual banking, clean affordable mobility and information and content. iQSTEL has 4 Business Divisions delivering accessibly to the necessary tools in today's pursuit of basic human needs: Telecommunications, Fintech, Electric Vehicles and Metaverse.

• The Enhanced Telecommunications Services Division (Communications) includes VoIP, SMS, International Fiber-Optic, Proprietary Internet of Things (IoT), and a Proprietary Mobile Portability Blockchain Platform.
  
  
• The Fintech Division (Financial Freedom) includes remittances services, top up services, Master Card Debit Card, a US Bank Account (No SSN required), and a Mobile App.
  
  
• The Electric Vehicles (EV) Division (Mobility) offers Electric Motorcycles and plans to launch a Mid Speed Car.
  
  
• The Artificial Intelligence (AI)-Enhanced Metaverse Division (information and content) includes an enriched and immersive white label proprietary AI-Enhanced Metaverse platform to access products, services, content, entertainment, information, customer support, and more in a virtual 3D interface.

The company continues to grow and expand its suite of products and services both organically and through mergers and acquisitions. iQSTEL has completed 12 acquisitions since June 2018 and continues to develop an active pipeline of potential future acquisitions.

Safe Harbor Statement: Statements in this news release may be "forward-looking statements". Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions, or any other information relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates, and projections about our business based partly on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties, and assumptions that are difficult to predict. Therefore, actual outcomes and results may and are likely to differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release, and iQSTEL Inc. undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release. This press release does not constitute a public offer of any securities for sale. Any securities offered privately will not be or have not been registered under the Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Company Website
www.iqstel.com

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SOURCE iQSTEL

FAQ

What is iQSTEL's (IQST) revenue target for FY 2024?

iQSTEL (IQST) is on track to achieve $290 million in revenue for FY 2024, with $7 million in gross profit and seven-digit operating income.

How much did iQSTEL's (IQST) Q2 2024 revenue increase compared to Q1?

iQSTEL's (IQST) preliminary Q2 2024 revenue increased by 49%, reaching $77 million compared to $51.4 million in Q1.

What is iQSTEL's (IQST) long-term revenue goal?

iQSTEL (IQST) has set a long-term goal to reach $500 million in annual sales as part of its strategy to uplist to Nasdaq.

How much capital does iQSTEL (IQST) plan to raise for its current operations?

iQSTEL (IQST) intends to raise up to $10.5 million to optimize its capital structure, leaving approximately $5 million of free cash after debt redemption.

What is the expected revenue impact of iQSTEL's (IQST) planned Lynk Telecom acquisition?

iQSTEL's (IQST) planned acquisition of Lynk Telecom is expected to boost annual revenue by $20 million and increase operating income by $1 million.